Indianapolis Duplex JV — Conservative Underwrite (Plumbing Reserve Included)

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Indianapolis Duplex JV — Conservative Underwrite (Plumbing Reserve Included)

Andrew Foord
Wayne NJ · Member since 2026 · 17 posts · 6 votes

Looking for a JV/private capital partner on an Indianapolis duplex: 24 S Euclid Ave, Indianapolis, IN 46201.

Deal snapshot

• Purchase price: $129,000

• Capital needed (20% down): $25,800

• Underwriting approach: conservative, with added CapEx/maintenance buffers

Conservative assumptions included

• Dedicated plumbing/CapEx reserve baked into underwriting

• Ongoing maintenance reserve added monthly

• Vacancy + repair sensitivity modeled before final go/no-go

Proposed structure (flexible)

• You provide capital/down payment

• I handle acquisition, leasing, management, and execution

• Open to JV/equity structures, including preferred return options

If this aligns with your buy box, DM me and I’ll share the full underwriting packet (base + stress scenarios) and operating plan.

Listing: https://www.zillow.com/homedetails/24-S-Euclid-Ave-Indianapolis-IN-46201/245127287_zpid/

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  • Steve Lehman
    Real Estate Consultant · Indianapolis · Member since 2019 · 82 posts · 81 votes
    8mo

    You can't be serious. This property is in one of the worst areas in Indy. This street has a constant turn of rental properties. There is always someone selling because they can never make it work due to the constant squatters, meth heads, other less desirables that roam this area and street.  

    Here is one of the pictures from the listing. Agent says it's ready for rent at $900. Ya, OK! The only way you can pull $900 is section 8. Supposedly the other side has one who is paying $900 but is month to month. 

    @Sam B.

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  • Andrew Foord
    OP
    Wayne NJ · Member since 2026 · 17 posts · 6 votes
    8mo

    @Sam B @Steve Lehman. Thanks for the thoughtful analysis — really appreciate you taking the time to break down the area risk and assumptions. That feedback helped us tighten our underwriting and decision guardrails.

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